3D Printing Medical Devices Market Drivers and Challenges, Opportunities Insights | 3D Systems Corporation (US), GE Additive (US), Materialise NV (Belgium), Renishaw plc (UK), SLM Solutions Group AG (Germany), Desktop Metal, Inc. (US), Prodways Group (Fra

Global 3D Printing Medical Devices Market is flourishing owing to an increase in customer development, an extension of the variety of biomedical applications, and major Research and Developments for the advancement of 3D printers at the academic and industrial levels…

According to the new market research report the global market is projected to reach USD 5.1 billion by 2026 from USD 2.4 billion in 2021, at a CAGR of 16.3% during the forecast period. 3D printing technology is increasingly being used by a wide range of industry verticals and healthcare industry is one of them. 3D printing technology here is used to manufacture the medical devices and equipment that in turn are used in the healthcare procedures and operations. 3D printing technology offers greater benefits over conventional manufacturing process.

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Leading Companies of 3D Printing Medical Devices Market study are:

Stratasys Ltd. (US & Israel), 3D Systems Corporation (US), GE Additive (US), Materialise NV (Belgium), Renishaw plc (UK), SLM Solutions Group AG (Germany), Desktop Metal, Inc. (US), Prodways Group (France), Carbon, Inc. (US), CELLINK (Sweden), Organovo Holdings, Inc. (US), EOS (Electro Optical Systems) GmbH (Germany), Biomedical Modeling, Inc. (US), Formlabs, Inc. (US), 3T Additive Manufacturing Ltd. (UK), DENTSPLY Sirona, Inc. (US), DWS Systems SRL (Italy), Roland DG (Japan), HP, Inc. (US), and regenHU (Switzerland) among others are some of the major players operating in the global 3D Printing Medical Devices market.

3D Printing Medical Devices Market Dynamics

Driver: Increasing public-private funding to expand 3D printing manufacturing capabilities

In recent years, there has been a significant increase in public-private funding to support various initiatives in the 3D printing industry. Such research and funding activities are expected to boost the development of 3D printing products and technologies, thereby driving the growth of the 3D printing medical devices market.

Restraint: Shortage of a skilled workforce due to limited specialized training in additive manufacturing

Dearth of well-trained technicians for additive manufacturing is a major hurdle in optimal adoption of 3D printing in medical device industry. There is a very limited resource pool available for staff that is well-versed with 3D printing processes, which is further worsened by the rapid pace of evolution of the 3D printing medical devices market in terms of technology and materials. In addition, there is a dearth of training programs as well as lack of a workforce with a full understanding of the design process and production cycle in additive manufacturing affects the final quality of the product. The lack of such a workforce would restrain the overall adoption of 3D printing in the medical devices industry.

Opportunity: Direct digital manufacturing

The digitization of dentistry and medical procedures has advanced immensely over the years, with the intention of improving the clinical workflow through the incorporation of technology. The industry is experiencing a shift from traditional to digital dentistry and surgeries. Direct digital manufacturing involves the application of computer-controlled processes for developing a physical object directly from a digital design. With advancements in 3D printing, direct digital manufacturing is becoming a widely used technology as compared to traditional manufacturing techniques. It offers a unique set of advantages as it eliminates the investment in tooling, reduces the lag time between designing and production, and increases production.

Challenge: High capital investment and operating costs

Small and medium-sized end users may find it unfeasible to establish 3D printing facilities due to financial constraints. This is a key challenge in the market. The cost of a high-resolution 3D printer is around USD 40,000-100,000, while the cost of a 3D printer used for printing craniomaxillofacial implants is approximately USD 3,500-4,000; ROI for these devices can only be met after 1-2 years. This also makes it difficult for healthcare facilities dependent on federal funding (for whom securing funds in itself is a time-consuming process) to install and use such equipment. Due to this financial aspect, many smaller dental and orthopedic clinics may choose to outsource production to service bureaus or laboratories.

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3D Printing Medical Devices : Market Segmentation

This report has segmented the global 3D Printing Medical Devices market based on component, application, technology, end user, and region.

Global Market, by Component
• Equipment
• Materials
• Services & Software

Global Market, by Application
• Surgical Guides
• Surgical Instruments
• Standard Prosthetics & Implants
• Custom Prosthetics & Implants
• Tissue-engineered Products
• Hearing Aids
• Wearable Medical Devices
• Other Applications

Global Market, by Technology
• Laser Beam Melting
• Photopolymerization
• Droplet Deposition/Extrusion-based
Technologies
• Electron Beam Melting
• Three-dimensional Printing/Adhesion Bonding/Binder Jetting
• Other Technologies

Global Market, by End User
• Hospitals & Surgical Centers
• Dental & Orthopedic Clinics
• Academic Institutions & Research Laboratories
• Pharma-Biotech & Medical Device Companies
• Clinical Research Organizations

Global Market, by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Market Estimation Methodology

A detailed market estimation approach was followed to estimate and validate the size of the global 3D Printing Medical Devices market and other dependent submarkets.

• The key players in the global 3D Printing Medical Devices market were identified through secondary research, and their global market shares were determined through primary and secondary research.

• The research methodology includes the study of the annual and quarterly financial reports of the top market players as well as interviews with industry experts for key insights on the global 3D Printing Medical Devices market.

• All percentage shares, splits, and breakdowns were determined by using secondary sources and verified through primary sources.

• All the possible parameters that affect the market segments covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

The above-mentioned data was consolidated and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.

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